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Israel PM Benjamin Netanyahu's statement triggers a cool-off in oil prices
US treasury secretary Scott Bessent said that the US is looking at easing sanctions on Iran oil to bring prices down and may also look at a unilateral release of some SPR reserves of its own, beyond the ones committed to the International Energy Agency. Trump Administration officials also said that there are no plans to ban the exports of oil and gas.
Indian indices log biggest single-day decline in nearly two years
Indian equity benchmarks experienced their steepest single-day drop in nearly two years, plummeting over 3% on Thursday. Attacks on West Asian oil and gas infrastructure fueled inflation concerns, while HDFC Bank's sharp decline added further pressure. The Nifty closed below 23,000, and the Sensex fell significantly, wiping out recent gains and impacting market capitalization.
Oil Ends Choppy Day With Gains as Futures Ease From Day’s Highs
The benchmark price of oil ultimately ended the day higher as escalating attacks in the Persian Gulf caused long-term damage to major energy facilities. Natural gas jumped.
Strait of Hormuz tensions escalate as Iran targets regional energy infrastructure
In a dramatic turn of events, Iran has intensified its offensive against oil and gas installations across the Gulf, a direct response following an Israeli airstrike near the vital Strait of Hormuz. This escalating conflict places nearby shipping interests in jeopardy, with reported damage to vessels off both the UAE and Qatar.
India has enough urea stock until May as 1 million tonnes reach ports
India has successfully imported one million tonnes of urea, providing a buffer for agricultural needs until May. Nonetheless, as the monsoon looms on the horizon, additional imports will be vital. Domestic production is under strain due to interruptions in natural gas supplies.
India's JSW unit seeks government help to secure gas supplies amid shortages
India's JSW Steel Coated Products, a unit of JSW Steel, has sought government intervention to secure supplies of liquefied natural gas and propane to prevent output disruptions amid shortages caused by the Iran war, according to a letter reviewed by Reuters.
Iran attack wipes out 17% of Qatar LNG capacity; ‘never in my wildest dreams,’ says QatarEnergy CEO
The recent escalation of hostilities has struck a devastating blow to Qatar's energy infrastructure, severely impacting crucial facilities that underpin a large portion of the country’s liquefied natural gas exports. Experts warn that recovery could take years, potentially shaking the foundations of global LNG supplies.
Oil jumps above $119 a barrel on Middle East energy attacks
Iran launched missile attacks on energy facilities in Qatar, Saudi Arabia, and Kuwait following an Israeli strike on its gas field, escalating regional tensions. Brent crude prices surged past $119 a barrel, nearing multi-year highs. European gas prices also soared. The U.S. is considering lifting sanctions on Iranian oil.
Gas supply shock may outlast war, bigger worry than oil prices: ICICI Securities
Energy Analyst Probal Sen said damage to key LNG infrastructure may delay supply recovery for weeks, even if tensions ease, with prolonged disruption weighing on the earnings of energy companies, especially those reliant on industrial gas demand. Domestic supply, however, may remain relatively stable in the near term.
Adani Total Gas, ONGC, and others gain up to 12%: Why are natural gas stocks rising despite stock market crash? - Upstox
Adani Total Gas, ONGC, and others gain up to 12%: Why are natural gas stocks rising despite stock market crash?Upstox
Explained — How important is the attack on Gas fields of Iran, Qatar and its implications
Markets have responded to these developments. Oil prices have risen to around $115 dollars per barrel. LNG markets are also pricing in tighter supply conditions, along with the possibility of cargo rerouting.
HPCL shares near 52-week low, other OMCs fall as crude oil spike continues
Oil prices staged a sharp rebound on Wednesday after some softness earlier in the day after both Israel and Iran launched attacks on energy infrastructure, impacting the world's biggest gas production facilities in Qatar and Iran. Rising oil prices are negative for oil marketing companies.